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Shares of MRF, Ceat, Apollo Tyres and JK Tyres may come under pressure, as Finance Minister Arun Jaitley said the government would soon hike the import duty on rubber to 25 per cent from 20 per cent now. Analysts fear this could increase the cost of rubber, the key raw material for tyre. The minister, while replying to a debate on the Finance Bill in the Lok Sabha, said the hike in import duty would help domestic growers against falling local prices.
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